The government will push for consolidation of the public sector banks once they are recapitalised and strengthened, Finance Minister Arun Jaitley said today. “We have now undertaken this exercise of recapitalisation of banks within the existing resources. I am trying to find additional resources for that purpose… strengthen the banks. Once they are strengthened, I am going for consolidation of some of the banks,” he said at a event organised by IFC here.
In his Budget speech, Jaitley had announced that the government will unveil a roadmap for consolidation of public sector banks (PSBs) which are expected to get an infusion of Rs 25,000 crore this fiscal. He had also announced if additional capital is required by these banks, the government will find the resources for doing so.